Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Short Interest Up 57.1% in October

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 13,200 shares, an increase of 57.1% from the October 15th total of 8,400 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average trading volume of 16,100 shares, the short-interest ratio is currently 0.8 days.

Espey Mfg. & Electronics Trading Down 1.7 %

Shares of ESP stock opened at $29.63 on Friday. Espey Mfg. & Electronics has a 1 year low of $16.50 and a 1 year high of $33.00. The company has a market cap of $82.67 million, a PE ratio of 12.04 and a beta of 0.15.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its quarterly earnings data on Friday, September 27th. The company reported $0.73 earnings per share for the quarter. Espey Mfg. & Electronics had a net margin of 15.56% and a return on equity of 15.95%. The business had revenue of $11.61 million for the quarter.

Espey Mfg. & Electronics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.37%. The ex-dividend date was Friday, September 20th. This is an increase from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. Espey Mfg. & Electronics’s dividend payout ratio is presently 40.65%.

Insiders Place Their Bets

In other news, insider Peggy A. Murphy sold 1,353 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $29.50, for a total transaction of $39,913.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.78% of the company’s stock.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Several large investors have recently made changes to their positions in ESP. De Lisle Partners LLP grew its position in Espey Mfg. & Electronics by 7.5% in the third quarter. De Lisle Partners LLP now owns 43,114 shares of the company’s stock valued at $1,298,000 after purchasing an additional 3,000 shares in the last quarter. Ellsworth Advisors LLC lifted its stake in Espey Mfg. & Electronics by 6.9% in the third quarter. Ellsworth Advisors LLC now owns 23,977 shares of the company’s stock valued at $721,000 after acquiring an additional 1,555 shares during the last quarter. Secure Asset Management LLC acquired a new stake in Espey Mfg. & Electronics in the third quarter valued at $219,000. Renaissance Technologies LLC lifted its stake in Espey Mfg. & Electronics by 3.7% in the second quarter. Renaissance Technologies LLC now owns 111,512 shares of the company’s stock valued at $2,370,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Espey Mfg. & Electronics by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock worth $1,841,000 after buying an additional 1,591 shares during the last quarter. Institutional investors own 36.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Espey Mfg. & Electronics from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

Espey Mfg. & Electronics Company Profile

Espey Mfg. & Electronics Corp., a power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States and internationally. The company's principal products include power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, antennas, and high-power radar systems for use in AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power applications.